James Wynn, a well-known crypto whale, experienced a significant liquidation event when Bitcoin’s price surged past $117,000 on the Hyperliquid platform. Wynn had taken a highly leveraged short position at 40X, betting on a price decline. However, the unexpected upward momentum forced the liquidation of his position, resulting in a loss of 155.38 BTC, equivalent to approximately $16.14 million. This event not only impacted Wynn’s portfolio but also contributed to heightened volatility in the Bitcoin market.

https://www.ainvest.com/news/crypto-whale-james-wynn-loses-16-14-million-bitcoin-liquidation-2507/